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ben bernanke, wow, i think he spooked the markets today. he said something that erased the entire rally. but did people really hear him right? that's up next. we're going to try to figure out bernanke. i was worried the health care system spoke a language all its own with unitedhealthcare, i got help that fit my life. information on my phone. connection to doctors who get where i'm from. and tools to estimate what my care may cost. so i never missed a beat. we're more than 78,000 people looking out for more than 70 million americans. that's health in numbers. unitedhealthcare. try running four.ning a restaurant is hard, fortunately we've got ink. it gives us 5x the rewards on our internet, phone charges and cable, plus at office supply stores. rewards we put right back into our business. this is the only thing we've ever wanted to do and ink helps us do it. make your mark with ink from chase. >>> welcome back to "the kudlow report." in this half hour, look at these violent scenes from michigan. the right to work battle was far from peaceful
ben bernanke, wow, i think he spooked the markets today. he said something that erased the entire rally. but did people really hear him right? that's up next. we're going to try to figure out bernanke. i was worried the health care system spoke a language all its own with unitedhealthcare, i got help that fit my life. information on my phone. connection to doctors who get where i'm from. and tools to estimate what my care may cost. so i never missed a beat. we're more than 78,000 people looking...
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and ben bernanke said household confidence is starting to wane. businesses aren't spending money because of the fiscal cliff. so it's so elusive. it's almost right there. next year could be a good year if we can get some of these uncertainties settled. >> thank you so much, christine. appreciate it. >>> 26 minutes past the hour. >>> without it, a lot of iphone users were lost without it. literally. the app that just made a big comeback. switchgrass in argentina, change engineering in dubai, aluminum production in south africa, and the aerospace industry in the u.s.? at t. rowe price, we understand the connections of a complex, global economy. it's just one reason over 75% of our mutual funds beat their 10-year lipper average. t. rowe price. invest with confidence. request a prospectus or summary prospectus with investment information, risks, fees and expenses to read and consider carefully before investing. he opened up jake's very private world. at first, jake's family thought they saved ziggy, but his connection with jake has been a lifesaver. f
and ben bernanke said household confidence is starting to wane. businesses aren't spending money because of the fiscal cliff. so it's so elusive. it's almost right there. next year could be a good year if we can get some of these uncertainties settled. >> thank you so much, christine. appreciate it. >>> 26 minutes past the hour. >>> without it, a lot of iphone users were lost without it. literally. the app that just made a big comeback. switchgrass in argentina, change...
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. >> and you can thank big ben bernanke, the fed chief. a lot of people saying that the federal reserve and its herculean efforts to keep the economy moving is why stocks are up, why the economy is growing, and they're expecting the fed to announce new measures, new st stimulus to keep it going. so when you hear the catch phrase that the fed is the only game in town, the fed is the only game in town. around the world it has been central banks who are independent from governments, central banks who have been doing so much, pumping money into the system to keep things going. s&p 500 up 13% so far this year. all of these uncertainties we talked about, the fiscal cliff, all of that stuff, it is because of the certainty of fed policy many people are telling me, also because they think on wall street the fiscal cliff will be avoided. they think on wall street the only thing left to do is a little bit of shouting over what the top rate will be. 36%, 37%. they think corporate taxes will come down and we know that that is in the latest sort of prop
. >> and you can thank big ben bernanke, the fed chief. a lot of people saying that the federal reserve and its herculean efforts to keep the economy moving is why stocks are up, why the economy is growing, and they're expecting the fed to announce new measures, new st stimulus to keep it going. so when you hear the catch phrase that the fed is the only game in town, the fed is the only game in town. around the world it has been central banks who are independent from governments, central...
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. >> reporter: federal reserve chair ben bernanke warns gridlock is already affecting the economy. >> why is it that consumer confidence dropped so sharply this week? why is it that small business confidence dropped so sharply? why are the markets volatile. >> reporter: now this is interesting. we're looking this morning at a new analysis from the nga, the national governor's association. they say on average states will lose about 7% of their federal grants if we go over the cliff. but that some states will actually bring in more tax revenue to compensate. other states will bring in less. >> that is interesting. all right. thanks so much. >>> syria is reportedly escalating the conflict with opposition forces by firing scud missiles at rebels. u.s. officials say more than half dozen scud missiles were fired into northern syria and areas held about it rebels have suffered severe damage recently. there's no evidence that the missiles contain chemical weapons, though. meanwhile, the president of ecuador denied yesterday that syrian leader assad has requested asylum there. >>> john mcafee
. >> reporter: federal reserve chair ben bernanke warns gridlock is already affecting the economy. >> why is it that consumer confidence dropped so sharply this week? why is it that small business confidence dropped so sharply? why are the markets volatile. >> reporter: now this is interesting. we're looking this morning at a new analysis from the nga, the national governor's association. they say on average states will lose about 7% of their federal grants if we go over the...
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ben bernanke's news conference starts at 12:15 p.m. eastern time. steve joins us in a few minutes with the preview from washington. >>> another story with big implications is michigan's decision to become a righ"right work" state. it would bar members from requiring to pay member dues. the governor signed the law. >> shouldn't unions be putting out the proposition workers want to join a union and shouldn't workers be able to make a choice their dollars are going to that union based on whether they're getting results that. 's what this is doing. that's why i view this as pro worker, not anti-union. >> it is viewed as a big blow to organized union that has seen membership decline across the country. dow opened higher by 56, nasdaq by 13 and s&p by a little more than 7, a gain half a percent across the board. in asia, higher across the board, not a lot. hang seng did well, higher by 181 points. europe still open at this hour, higher across the board. a gain for germany and quarter percent for the ftse, fairly flat where decide iing he will longer be a
ben bernanke's news conference starts at 12:15 p.m. eastern time. steve joins us in a few minutes with the preview from washington. >>> another story with big implications is michigan's decision to become a righ"right work" state. it would bar members from requiring to pay member dues. the governor signed the law. >> shouldn't unions be putting out the proposition workers want to join a union and shouldn't workers be able to make a choice their dollars are going to that...
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. >> fed chairman ben bernanke announced yesterday that the fed would continue a low interest- rate policy and $40 billion per month in quantitative easing. he also noted the fed's decision to purchase longer-term treasuries. he made the announcement at a news conference following a meeting of the federal open market committee, and this is an hour and 15 minutes. >> good afternoon. 3 and 1/2 years since the economic recovery began. the economy continues to expand at a moderate pace. unfortunately, unemployment remains high. about 5 million people, more than 40% of the unemployed, have been without a job six months or more and millions more who say they would like full-time work have been able to find part-time employment or have stopped looking entirely. the conditions now prevailing in the job market represents an enormous waste of human and economic potential. a return to broadbased prosperity will require staged improvements in the job market, which in turn require stronger economic growth. meanwhile, apart from temper fluctuations largely reflected swings in and prices, inflation appea
. >> fed chairman ben bernanke announced yesterday that the fed would continue a low interest- rate policy and $40 billion per month in quantitative easing. he also noted the fed's decision to purchase longer-term treasuries. he made the announcement at a news conference following a meeting of the federal open market committee, and this is an hour and 15 minutes. >> good afternoon. 3 and 1/2 years since the economic recovery began. the economy continues to expand at a moderate pace....
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ben bernanke says the fed doesn't have enough tools to offset the fiscal cliff. the fed will keep interest rates near zero until the jobless rate falls to 6.5% or inflation rate to 2.5%. and growth next year 2.3% to 3% and jobless rate likely to say in the 7.4 to 7.7% range. unemployment checks will end by the end of the year if congress fails to fix the fiscal cliff. it's unclear the fate of the benefits in the fiscal cliff fight, something that terrifies people like alisia worthen. you've been looking for a job for more than six months. are you more optimistic or less optimistic? >> i believe it's going to turn around. it will probably take a little time but i believe it will. >> you need the government to help now until that happens? >> yes, i definitely do. i have a household to run, still have rent and bills to pay and i need help. i need help. >> millions of people like alecia. she still needs an unemployment check, unclear of the fate of jobless benefits and extension of those in the faiscal cliff fight. conservatives say it's time to end it. >> she has a
ben bernanke says the fed doesn't have enough tools to offset the fiscal cliff. the fed will keep interest rates near zero until the jobless rate falls to 6.5% or inflation rate to 2.5%. and growth next year 2.3% to 3% and jobless rate likely to say in the 7.4 to 7.7% range. unemployment checks will end by the end of the year if congress fails to fix the fiscal cliff. it's unclear the fate of the benefits in the fiscal cliff fight, something that terrifies people like alisia worthen. you've...
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federal reserve chairman ben bernanke as he kicks off a two day fed meeting and
federal reserve chairman ben bernanke as he kicks off a two day fed meeting and
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looking at the domestic front, "ben bernanke is to make a last fiscal cliff police." "topping a yearlong campaign, he would get one last chance to talk washington down from the fiscal cliff. host: c-span will be carrying that press conference live, fed chairman ben bernanke, on c-span 3. you can find that at 2:15 p.m. eastern time. you can find it on their website, we will be archiving that after the fact. what deductions would you give up? let's go to dawn in eugene, oregon. caller code good morning. listen, the contribution thing is a way to be of service, as far as i'm concerned. host: by contribution you mean charitable contribution? caller: yes. it is something that i would want to keep. i mean, not keep, but i would be willing to contribute to that concern about taxes. my main concern is the mortgage deduction. how severe -- many of us have every dollar that we account for on the federal. if we did not have that, we would be up to 25%. this would be quite a severe blow if this were done in a cut and dried fashion. maybe they can do a tiered thing? that is the th
looking at the domestic front, "ben bernanke is to make a last fiscal cliff police." "topping a yearlong campaign, he would get one last chance to talk washington down from the fiscal cliff. host: c-span will be carrying that press conference live, fed chairman ben bernanke, on c-span 3. you can find that at 2:15 p.m. eastern time. you can find it on their website, we will be archiving that after the fact. what deductions would you give up? let's go to dawn in eugene, oregon....
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ben bernanke, chairman of the fed saying hey guys, you got -- he's the one who came up with the term fiscal cliff. >> did he. >> bill: warning to members of congress. here he is yesterday. >> even though we've not yet even reached the point of the fiscal cliff potentially kicking in it is already affecting business investment and hiring decisions by creating uncertainty or creating pessimism. >> bill: front page of "the hill" today, cliff is already inflicting damage. it is because people don't know what the hell's going to happen. >> it will be interesting to see what ben bernanke says behind closed doors and the cursing he does at congress. he has to be rolling his eyes that we're at this point and at least publicly, we're nowhere. the clock is ticking and he was saying once again listen, don't minimize this. as president obama said, this is avoidable. they can do this. but if they don't do it and you go over the cliff then who knows what happens and then maybe it is irreversible, some of the damage. >> bill: barbara is on the line from columbus, new jersey. hey, barbara, good morn
ben bernanke, chairman of the fed saying hey guys, you got -- he's the one who came up with the term fiscal cliff. >> did he. >> bill: warning to members of congress. here he is yesterday. >> even though we've not yet even reached the point of the fiscal cliff potentially kicking in it is already affecting business investment and hiring decisions by creating uncertainty or creating pessimism. >> bill: front page of "the hill" today, cliff is already inflicting...
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we have this week, ben bernanke and the fed will meet at a two-day fed meeting. a lot of people are hoping to hear from the federal reserve chief that there will be some kind of on going stimulus in the form of, you know, bond buybacks or something. we'll be looking to see what he has to say about the economy. this is another big uncertainty in the markets for the week. you know, this comes after consumer spending showing as "the wall street journal" set this morning, consumer spending, consumer confidence wabbling. this is europe concerns. we're seeing that consumer heading into the end of the year is starting to get a little more nervous about where we're headed here. now fiscal cliffs and payroll, fiscal cliff has a lot to do with this. the american payroll association this is the trade group for all of the small business who's are doing payrolls, you know, paying you. they say the fiscal cliff really isn't january 1st. their fiscal cliff is december 14th. that's the time they need to have the software changed to make sure the tax changes go into the paycheck.
we have this week, ben bernanke and the fed will meet at a two-day fed meeting. a lot of people are hoping to hear from the federal reserve chief that there will be some kind of on going stimulus in the form of, you know, bond buybacks or something. we'll be looking to see what he has to say about the economy. this is another big uncertainty in the markets for the week. you know, this comes after consumer spending showing as "the wall street journal" set this morning, consumer...
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ben bernanke was saying the deficit could be cut too far and too fast at the same time. this has to be the time where we don't go into an austerity program. we are not quite there. if businesses are spending and consumers are spending and trade was helping, i would say that is the right time to be doing this. the deficit reduction has to be done in context. host: this is from "the wall street journal"last week -- guest: they are not spending because they are angry at washington but they don't have the demand for their goods and services. that is the way it is now. have a great incentive to do anything. we're spending this money on the wrong things. the president proposed additional stimulus of measures including infrastructure. thenot sure you can rely on private sector to kick in that quickly. host: guest: on the issue of growth -- this is a fundamental issue. the only disagreement is how you get to it. my concern about the fiscal cliff is it will hurt book -- growth and we will get a recession you can never fix your debt problems and a recession. businesses and their i
ben bernanke was saying the deficit could be cut too far and too fast at the same time. this has to be the time where we don't go into an austerity program. we are not quite there. if businesses are spending and consumers are spending and trade was helping, i would say that is the right time to be doing this. the deficit reduction has to be done in context. host: this is from "the wall street journal"last week -- guest: they are not spending because they are angry at washington but...
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ben bernanke spoke to leaders after the market meeting. this is one hour and 15 minutes. >> the economy continues to expand at a moderate pace. unfortunately, however, unemployment remains high. about 5 million people, more than 40% of the unemployed have been unemployed for six months or more. and millions more have been able to find only part-time employment or have stopped working entirely. the conditions now prevailing in the job market represent an enormous waste of human and economic potential. the return to broad-based prosperity will require steady improvement in the job market, which requires longer economic growth. meanwhile, apart from temporary fluctuations in large swings in energy prices, inflation has remained tame. 2% objective over the long-term. against an economic backdrop that includes high unemployment and subdued inflation, we will maintain highly accommodative policy. today, the committee took several steps. first, it decided to continue its purchases of agency mortgage-backed securities, initiated at the september m
ben bernanke spoke to leaders after the market meeting. this is one hour and 15 minutes. >> the economy continues to expand at a moderate pace. unfortunately, however, unemployment remains high. about 5 million people, more than 40% of the unemployed have been unemployed for six months or more. and millions more have been able to find only part-time employment or have stopped working entirely. the conditions now prevailing in the job market represent an enormous waste of human and...
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you can have ben bernanke telling you there's no inflation. most americans know that is into right now if you're out there buying milk and groceries and gasoline and rants. you can have a central banker telling you there's no inflation. that's not a problem. you can have a central bank that increases its balance sheet, and printing money, everybody was holding the risk of our bonds, when he is printing those bonds and buying mortgages with that money, at some point in time they will say -- confidence will come. the lack of confidence is going to come where they are not going to -- table caching. they're not going to -- chinese dropped their ownership 10% last year. why did they do that? by teaching the chinese government dropped $150 billion of our debt last year? because they don't have any confidence in what we are doing. and neither do i. that's what i -- i wanted to make a people to see what's going to happen to us when "the debt bomb" explodes. and everything you can on now come you're not going to be able to count on. and the consequence
you can have ben bernanke telling you there's no inflation. most americans know that is into right now if you're out there buying milk and groceries and gasoline and rants. you can have a central banker telling you there's no inflation. that's not a problem. you can have a central bank that increases its balance sheet, and printing money, everybody was holding the risk of our bonds, when he is printing those bonds and buying mortgages with that money, at some point in time they will say --...
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speaking of the fiscal cliff, jessica, what did the fed chairman ben bernanke say about these current negotiations? >> well, bernanke is the man credited with coining the term fiscal cliff. he did it back in february as part of testimony before congress. bernanke was speaking at a press conference today and he was asked two things. one, does he see impacts from the fiscal cliff, the lack of a deal, is it already rippling through the economy in? he said, yes. that's why you're seeing a fall in consumer confidence and less business activity and he said that it's impair tea that the congress comes to a deal with the white house and he was asked, do you think that term is correct a. fiscal cliff? is it a slope, maybe? he said, no, it's a fiscal can cliff because the economy will hit a brick wall if there is not a deal in january. he says it is not hype. >> he's basically saying if we go over the fiscal cliff, if these lawmakers and white house doesn't make a deal, it could lead to a recession? >> that >> reporter: that's right. we could hit another recession if we go over the fiscal cliff
speaking of the fiscal cliff, jessica, what did the fed chairman ben bernanke say about these current negotiations? >> well, bernanke is the man credited with coining the term fiscal cliff. he did it back in february as part of testimony before congress. bernanke was speaking at a press conference today and he was asked two things. one, does he see impacts from the fiscal cliff, the lack of a deal, is it already rippling through the economy in? he said, yes. that's why you're seeing a...
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that said, that awareness, that recognition, that's ben bernanke and former ed lazar have all embraced our problems now are more about demand, construction, should not undermine the fundamental importance of dealing with skills or that we may face temporary or future skill gaps. i think there's three reasons why we should be focused on this. number one, even the unemployment today that is fundamentally about the cyclical demand, less -- let's strengthen the economy, can easily become the next structural skills problem of the future. we know that one of the challenges we face right now in our economy is not just lowering unemployment, but lowering long-term unemployment. if we allow legions of our fellow citizens to stay unemployed for a year or two year or longer, we note from study after study that they will have more trouble reestablishing their skills going forward. and that would be a humanitarian crisis for us as a country, but it will also be, we will also be sitting by and letting the new structural skills gap expand because we're not taking enough efforts right now to get peopl
that said, that awareness, that recognition, that's ben bernanke and former ed lazar have all embraced our problems now are more about demand, construction, should not undermine the fundamental importance of dealing with skills or that we may face temporary or future skill gaps. i think there's three reasons why we should be focused on this. number one, even the unemployment today that is fundamentally about the cyclical demand, less -- let's strengthen the economy, can easily become the next...
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talking about their expectations of ben bernanke. nicole: would even throw out the idea of stimulus? that helped things along pushing us along throughout this entire last six months. lori: absolutely. thank you so much, nicole petallides on the floor of the new york stock exchange. protests turn violent in lansing, michigan, as union protesters ripped down a tent belonging to right-to-work supporters. becoming the 24th right-to-work states today allowing workers to get the right to join unions. jeff flock is in lansing michigan covering the story for us. i thought it was interesting how you covered the scene there with michigan a few years back, excuse me, wisconsin. >> wisconsin, exactly. not the same kind of intensity. part of that is because this is already pretty much a done deal. there they had not a teacher headed off. the second one being debated right now. but renew over here to the scene of the george romney state office building. george romney, former governor of wisconsin, and father of mitt romney. the large group of prot
talking about their expectations of ben bernanke. nicole: would even throw out the idea of stimulus? that helped things along pushing us along throughout this entire last six months. lori: absolutely. thank you so much, nicole petallides on the floor of the new york stock exchange. protests turn violent in lansing, michigan, as union protesters ripped down a tent belonging to right-to-work supporters. becoming the 24th right-to-work states today allowing workers to get the right to join unions....
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ben bernanke said yesterday that the fact that we don't know what's going to happen with this fiscal cliff is affecting the economy. he says it's inflicting damage on the economy, consumer confidence is falling and the failure to come up with a deal will really kill the progress we're making. >> gretchen: the whole thing really comes down to whether or not it's a tax problem or a spending problem. so these are the questions that were asked in a recent fox news poll. keep in mind, this is not just to fox viewers. this is to the average american who happens to pick up the phone. what is the best way to deal with the country's budget problem? mostly spending cuts, 57% say yes. mostly tax increases. only 20% say that is what should be done. both? 18% -- i think this is fascinating, because the message really coming up to the election was all about we need to tax the rich more. we need to pay the fair share, the 1%, the 99%. it really doesn't fall into place with how the election ended up falling out. >> brian: there might be a plan b in the works because it's so frustrating because the p
ben bernanke said yesterday that the fact that we don't know what's going to happen with this fiscal cliff is affecting the economy. he says it's inflicting damage on the economy, consumer confidence is falling and the failure to come up with a deal will really kill the progress we're making. >> gretchen: the whole thing really comes down to whether or not it's a tax problem or a spending problem. so these are the questions that were asked in a recent fox news poll. keep in mind, this is...
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federal reserve chairman ben bernanke admitted that the spending levels of this administration are unsustainable, just as president clinton declared years ago, the era of big government is over. this congress needs to man up and declare the era of taxing, spending and borrowing is over as well. now is the time for the president to provide leadership and level with the american people and set aside the campaign rhetoric of class warfare division and envy. small businesses cannot and should not be painted with the same broad brush as millionaires, billionaires and wall street executives. we must protect our small businesses and stop promoting the treatment of their income the same as the wealthy. at the same time, this administration needs to admit that raising taxes on small businesses will not help small businesses. we must prioritize our fiscal negotiations by putting spending reductions before addressing new receive news. mr. speaker -- revenues. mr. speaker, i came to washington to get something done. speaker boehner shows he understands the gravity of the situation and wants to find a soluti
federal reserve chairman ben bernanke admitted that the spending levels of this administration are unsustainable, just as president clinton declared years ago, the era of big government is over. this congress needs to man up and declare the era of taxing, spending and borrowing is over as well. now is the time for the president to provide leadership and level with the american people and set aside the campaign rhetoric of class warfare division and envy. small businesses cannot and should not...
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if you're ben bernanke, why would you throw a curveball at this hour. we'll see. that press conference, a little more than 24 hours from now. >> we're continuing e inine ini more on trip adviser. look at the cnbc realtime exchange. we did see the features point to a higher open. here at the big board, coca-col coca-cola -- [ bell ringing ] >> and ringing the bell there. trip adviser, interesting deal, because the pricing at which the shares were bought. >> you've got to remember, of course, you have a change in voting control. it had been controlled by barry diller, it will now be controlled by liberty media. they will own 22% of the economics of trib adviser, but 57% of the total votes of the company, effectively controlling the company. so any thoughts you might have as a shareholder in erms it of the future takeover premium in terms of changing control. well, for now, don't expect them to go to the price that john malone and liberty are paying here. that's quite a price, $62.52 a share. we'll see what their stock does. we anticipate it will move up. but nowhere
if you're ben bernanke, why would you throw a curveball at this hour. we'll see. that press conference, a little more than 24 hours from now. >> we're continuing e inine ini more on trip adviser. look at the cnbc realtime exchange. we did see the features point to a higher open. here at the big board, coca-col coca-cola -- [ bell ringing ] >> and ringing the bell there. trip adviser, interesting deal, because the pricing at which the shares were bought. >> you've got to...
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fed chief ben bernanke speaks at 2:15 eastern. the s & p 500 up more than 13% so far this year, and now up since the election. >>> bank of america, merrill lynch predicts oil prices in this country will drop to $50 per barrel. the cause? difficulty in moving huge amounts of oil from the bakan oil fields in south dakota and in texas. they don't predict a corresponding drop in gas prices. world oil prices will stay high, and our gas prices will likely track that. >>> americans are upbeat about the economy. 43% of americans say they are optimistic about 2013 and believe the economy is rebounding, nearly twice as many as last year. >> can i ask? the other day, we were talking about the fiscal cliff. and you tell us it will be really, really bad. why does the market keep going up? >> everyone thinks they will fix it. in the market, the question, what will the top rate be for the highest earners. 37%? the market says there will be a deal and lower corporate tax rates. if there isn't a deal, after the first of the year, a big stock marke
fed chief ben bernanke speaks at 2:15 eastern. the s & p 500 up more than 13% so far this year, and now up since the election. >>> bank of america, merrill lynch predicts oil prices in this country will drop to $50 per barrel. the cause? difficulty in moving huge amounts of oil from the bakan oil fields in south dakota and in texas. they don't predict a corresponding drop in gas prices. world oil prices will stay high, and our gas prices will likely track that. >>>...